10 steps to incorporating in Bahamas in 2024

Incorporating a IBC company in the Bahamas (also known as a Bahamas offshore company) can be done within one week, thanks to the simple procedures required by the Bahamas Companies Registrar. The following is an overview of the typical engagement procedures:

1. Before proceeding with Bahamas business incorporation, Healy Consultants requests our Client to i) sign our engagement letter ii) settle the fees applicable to the engagement and iii) provide us with the documents required for our due diligence checks. A list of the documents we request can be found on this due diligence webpage;
2. Healy Consultants confirms with our Client the name and corporate structure of the Bahamas IBC company soon to be incorporated. Thereafter, our Firm emails our Client a detailed project plan for the engagement, summarizing all tasks to be accomplished and estimated dates for provision of deliverables by our Firm;
3. Healy Consultants prepares incorporation documents for our Client’s signature. These documents must be returned to our office along with other documents required for the registration of the company with the Bahamas Registrar of International Business Companies;
4. Upon receipt of these documents, Healy Consultants registers the company statutes and its memorandum and articles of association at the IBC Registry;
5. We then complete Bahamas IBC incorporation. Bahamas company setup is completed with the corporate structure as approved by our Client;
6. We prepare all post-incorporation documents, which include the minutes of the first meeting of directors, the company’s bylaws, and all share certificates;
7. Following Bahamas company formation, Healy Consultants provides our Client with a complete company kit including i) original certificate of incorporation ii) a bound copy of Bahamas government approved articles of association iii) original share certificates iv) an original Bahamas government receipt as evidence of payment of annual Bahamas company registration and license fees;
8. Healy Consultants assists our Client with opening an international corporate bank account for his Bahamas company, without him travelling. The account can be multi-currency and will include world class internet banking facilities. Healy Consultants works with internationally recognized banks such as i) HSBC ii) Standard Chartered and iii) Citibank to provide corporate bank account services to Bahamas companies;
9. The bank couriers to our Client a corporate bank account kit including a token, then used to activate internet banking facilities (with Healy Consultants’ help if necessary);
10. After successful incorporation of the company, we courier back to our Client the company kit including i) original corporate documents ii) bank correspondence and iii) Client engagement feedback survey for him to assess the quality of our Bahamas business incorporation services.